Bankruptcy

Security Bank Corp., Based in Macon, Georgia, Is Shut Down By Regulators

By Scott Riddle

Security Bank Corp. was shut down yesterday by the Georgia Department of Banking and Finance, and the FDIC.  Pinehurst-based State Bank and Trust Co. will assume all of the deposits of Security Bank's six subsidaries and will acquire $2.4 billion of the banks' assets.

The subsidiary banks are:

• Security Bank of Bibb County
• Security Bank of Gwinnett County
• Security Bank of Houston County
• Security Bank of Jones County
• Security Bank of North Fulton
• Security Bank of North Metro

 Click here for more information from Joe Rauch of the Atlanta Business Chronicle.

Full post as published by Georgia Bankruptcy Blog on July 25, 2009 (boomark / email).